BEDC Management Debunks Dissolution Rumors, Boosts Revenue

The management of Benin Electricity Distribution Company (BEDC Electricity Plc.) has firmly denied rumors of dissolution and assured all staff that the current board and management remain intact.

This statement comes in response to a fake news publication circulating in the public domain.

Since the publication, the company has been flooded with inquiries from concerned internal and external stakeholders seeking further information.

The management has made it clear that the news is entirely false and baseless, emphasizing that the current board and management are fully committed to the success and growth of BEDC.

Through collective efforts and commitment, the company has achieved significant milestones since the current board took over in July 2022.

BEDC has increased its revenue collection from ₦4.9 billion in July 2022 to more than ₦7.6 billion as of February 2024, with a substantial reduction in aggregate technical, commercial, and collection loss.

The BEDC management acknowledges the hard work and dedication of the entire management and staff, which has led to these achievements.

This success has also prompted the company to implement salary increments, promotions, and other incentives for its workforce.

The current Board of Directors, working closely with Lender Banks, is determined to facilitate the divestment of 60% shares of the company to investors within the shortest time possible, while ensuring optimal operations.

The management has encouraged all staff to remain steadfast in their duties and continue to give their best efforts in driving the growth and success of BEDC Electricity Plc.

This latest development in the power sector showcases the resilience and commitment of the BEDC management in ensuring a stable and reliable electricity supply to its customers.

As the company continues to work towards its goals, it is essential for stakeholders to remain informed and engaged in the process, fostering a collaborative environment for the betterment of the power sector.